The move by these noble US citizens is most welcomed given the recent decline in charitable donations brought about by the challenging economic hardships experienced in the United States. Donations are said to have fallen by 3.6 percent last year, from $315 billion to $303.6 billion, according a report put out by Giving USA Foundation.
The pledge to donate was started by Warren buffet, who then was the world’s wealthiest man. He promised to donate 99% of his wealth, which according to Forbes magazine, was valued over 47 million dollars in March this year.
While speaking to the media, Buffet said that he is hoping that his actions would encourage Americans to become even more generous over time, given that they live in the most generous society on earth.
Buffet said that he contacted about 80 of the wealthiest people in the US, inviting them to join the program which he calls, the Giving Pledge.